Grant of Options

RNS Number : 2366E

Egdon Resources PLC

10 March 2022

 

  10 March 2022

EGDON RESOURCES PLC

 ("Egdon" or "the Company")

Grant of Options

Egdon Resources plc (AIM:EDR) announces that as part of a periodic incentive review and also to compensate salary reductions taken between March 2020 and December 2022, it has granted options to the following Directors and cancelled all existing options awards.

Director	Number of Options granted	Exercise Price (pence)	Vesting Date	Exercisable Until
Mark Abbott	4,444,444	2.25p	8 March 2023	7 March 2033
Martin Durham	3,555,556	2.25p	8 March 2023	7 March 2033

The options were set at an exercise price of 2.25p being the average closing mid-price on 7 March 2022

Following the grant of the options on 8 March 2022, the interests of the Directors in the share capital of the Company are as follows:

Director	Total number of Options held over Ordinary Shares	Total number of Warrants held over Ordinary Shares	Number of Ordinary Shares held
Mark Abbott	4,444,444	800,000	9,689,387
Martin Durham	3,555,556	100,000	200,000

In addition, the Company has granted options to employees on the same basis as Directors.  The total number of options granted to Directors and employees of the Company is 17,500,000 (Representing 3.39 % of the Company's issued share capital).

The total number of options granted to Directors and employees of the Company that were cancelled was 9,675,122 (Representing 1.87 % of the Company's issued share capital).

The information set out below is in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mark Abbott
2.	Reason for the notification
a)	Position / status	Managing Director
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Egdon Resources plc
b)	LEI	213800WWGH4S9GYSPL77
4.	Details of the transaction(s) section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1 pence per share value
	Identification code	GB00B28YML29
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		2.25 pence	4,444,444
d)	Aggregated information
	- Aggregated volume	4,444,444 Ordinary Shares of 1 pence per share value
	- Price11	2.25 pence per share
e)	Date of the transaction	8 March 2022
f)	Place of the transaction	Outside a trading venue

 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Martin Durham
2.	Reason for the notification
a)	Position / status	Technical Director
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Egdon Resources plc
b)	LEI	213800WWGH4S9GYSPL77
4.	Details of the transaction(s) section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1 pence per share value
	Identification code	GB00B28YML29
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		2.25 pence	3,555,556
d)	Aggregated information
	- Aggregated volume	3,555,556 Ordinary Shares of 1 pence per share value
	- Price11	2.25 pence per share
e)	Date of the transaction	8 March 2022
f)	Place of the transaction	Outside a trading venue

 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mark Abbott
2.	Reason for the notification
a)	Position / status	Managing Director
b)	Initial notification / amendment	Cancellation of options
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Egdon Resources plc
b)	LEI	213800WWGH4S9GYSPL77
4.	Details of the transaction(s) section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1 pence per share value
	Identification code	GB00B28YML29
b)	Nature of the transaction	Cancellation of options
c) Price(s) and volume(s)		Price(s)	Volume(s)
		10.00 pence	600,000
		20.62 pence	363,725
		9.70 pence	979,381
		7.85 pence	1,210,191
d)	Aggregated information
	- Aggregated volume	3,153,297 Ordinary Shares of 1 pence per share value
	- Price11	10.31 pence per share
e)	Date of the transaction	8 March 2022
f)	Place of the transaction	Outside a trading venue

 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Martin Durham
2.	Reason for the notification
a)	Position / status	Technical Director
b)	Initial notification / amendment	Cancellation of options
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Egdon Resources plc
b)	LEI	213800WWGH4S9GYSPL77
4.	Details of the transaction(s) section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1 pence per share value
	Identification code	GB00B28YML29
b)	Nature of the transaction	Cancellation of options
c) Price(s) and volume(s)		Price(s)	Volume(s)
		22.75 pence	659,341
		9.70 pence	773,196
		7.85 pence	955,414
d)	Aggregated information
	- Aggregated volume	2,387,951 Ordinary Shares of 1 pence per share value
	- Price11	12.56 pence per share
e)	Date of the transaction	8 March 2022
f)	Place of the transaction	Outside a trading venue

 

For further information please contact: 

Egdon Resources plc

Mark Abbott, Martin Durham  01256 702 292

Buchanan

Ben Romney, Jon Krinks  020 7466 5000

Nominated Adviser & Joint Broker - WH Ireland Limited 

Chris Hardie, Megan Liddell  020 7220 1666

Joint Broker & Financial Advisors - VSA Capital Limited

Andrew Monk (Corporate Broking) 020 3005 5000

Andrew Raca (Corporate Finance)

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Notes to Editors:

Egdon Resources plc (LSE: EDR) is an established exploration and production company focused on the hydrocarbon-producing basins of the onshore UK. 

Egdon holds interests in 39 licences in the UK and has an active programme of exploration, appraisal and development within its portfolio of oil and gas assets.  Egdon is an approved operator in the UK.  Egdon was formed in 1997 and listed on AIM in December 2004.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain

 

END

 

 

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